Square has a new $100M coming in, jacking up its valuation to $6B

Every point-of-sale terminal maker is developing an EMV reader, including Square

Square has a lot more competition now that Amazon and a dozen other companies are accepting swiped credit card payments, but it apparently has a fresh $100 million in the bank to help it face those rivals. According to a regulatory filing shared with Forbes and Fortune, Square has raised a Series E round from unnamed investors, bringing the valuation of the company up to $6 billion.

Last month CNBC reported that Square was going after $200 million in new capital and a major new investor, the Government of Singapore Investment Corporation. It’s unclear whether this new $100 million represents only a portion of that round, or whether it is the extent of Square’s fundraising for the time being. In 2012, Square raised $200 million in a big round led by financial giants Visa and JPMorgan Chase as well as Starbucks.

Square may need the funds as it tries to grow its core point-of-sale payments business while expanding into new turf in online commerce, cash advances and peer-to-peer money transactions. Meanwhile companies dominant in those markets have been making their own moves on Square. PayPal, and Amazon now both have their own smartphone payment networks, while startups like Shopify and big payment infrastructure giants like NCR are introducing their own tablet-based card readers.

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